Accounting standard- a document establishing accounting requirements, as well as acceptable methods of accounting. Standards are divided into federal, industry, international and organization (economic entity) standards.

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Accounting standards are documents that establish accounting requirements, as well as acceptable methods of accounting. They are divided into federal, industry, international and organization (economic entity) standards.

Russian Accounting Standards (RAS) may be called Accounting Regulations (PBU). These are the names given by the Ministry of Finance to this type of document.

Accounting standards usually focus on a specific area of ​​accounting. For example, Standard for fixed assets, Standard for intangible assets, Standard for income, etc.

(Clause 3 Article 3) defines:

"An accounting standard is a document that establishes the minimum necessary accounting requirements, as well as acceptable methods of accounting."

Refers to standards as documents in the field of accounting regulation (Article 21). Thus, it is indicated that documents in the field of accounting regulation include:
1) federal standards;
2) industry standards;
3) recommendations in the field of accounting;
4) standards of an economic entity.

Federal and industry standards are mandatory for use (unless otherwise established by these standards).

Federal standards Regardless of the type of economic activity, the following is established:
1) definitions and characteristics of accounting objects, the procedure for their classification, conditions for accepting them for accounting and writing them off in accounting;
2) acceptable methods of monetary measurement of accounting objects;
3) the procedure for converting the cost of accounting items expressed in foreign currency into the currency of the Russian Federation for accounting purposes;
4) requirements for accounting policies, including determining the conditions for changing them, inventory of assets and liabilities, accounting documents and document flow in accounting, including types of electronic signatures used to sign accounting documents;
5) chart of accounts and the procedure for its application, with the exception of the chart of accounts for credit organizations and the procedure for its application;
6) composition, content and procedure for the formation of information disclosed in the accounting (financial) statements, including samples of forms of accounting (financial) statements, as well as the composition of appendices to the balance sheet and financial performance report and the composition of appendices to the balance sheet and financial statement targeted use of funds;
7) conditions under which accounting (financial) statements give a reliable picture of the financial position of an economic entity as of the reporting date, the financial result of its activities and cash flows for the reporting period;
8) the composition of the last and first accounting (financial) statements during the reorganization of a legal entity, the procedure for its preparation and the monetary measurement of objects in it;
9) the composition of the latest accounting (financial) statements upon liquidation of a legal entity, the procedure for its preparation and monetary measurement of objects in it;
10) simplified methods of accounting, including simplified accounting (financial) reporting, for small businesses.

Federal standards may establish special accounting requirements (including accounting policies, chart of accounts and the procedure for its application) of public sector organizations, as well as requirements for accounting of certain types of economic activities.

Examples of federal accounting standards

Industry Standards establish the specifics of the application of federal standards in certain types of economic activity.

Accounting Recommendations are adopted in order to correctly apply federal and industry standards, reduce the cost of organizing accounting, as well as disseminate best practices in organizing and maintaining accounting, the results of research and development in the field of accounting.

Recommendations in the field of accounting can be adopted regarding the procedure for applying federal and industry standards, forms of accounting documents, with the exception of those established by federal and industry standards, organizational forms of accounting, organization of accounting services of economic entities, accounting technology, procedure for organizing and implementing internal control of their activities and accounting, as well as the procedure for the development of standards by these persons.

Economic entity standards are intended to streamline the organization and maintain its accounting records.

The necessity and procedure for developing, approving, amending and canceling standards of an economic entity are established by this entity independently.

The standards of an economic entity are applied equally and equally by all divisions of the economic entity, including its branches and representative offices, regardless of their location.

An economic entity that has subsidiaries has the right to develop and approve its own standards, mandatory for use by such companies. The standards of the specified entity, mandatory for use by the main company and its subsidiaries, should not create obstacles for such companies to carry out their activities.

Federal and industry standards should not conflict. Industry standards should not conflict with federal standards. Recommendations in the field of accounting, as well as standards of an economic entity, should not contradict federal and industry standards.

Federal and industry standards, as well as the program for the development of federal standards, are approved by regulatory legal acts in the prescribed manner, taking into account the provisions of this Federal Law.

Development of Russian accounting standards

For a long time, from 2012 to 2016. The Ministry of Finance of the Russian Federation did not develop new PBUs. The fact is that, in accordance with Art. 27 the developer of the federal accounting standard is not the Ministry of Finance of the Russian Federation, but any so-called subject of non-state regulation of accounting. But at first, subjects of non-state regulation of accounting were not very active in this work.

In 2016, Order No. 70n of the Ministry of Finance of the Russian Federation of May 23, 2016 was adopted, which approved the “Program for the development of federal accounting standards for 2016-2018.” According to this program, 14 new accounting standards (or new versions of old standards) will be developed, as well as 6 changes to existing standards. New accounting standards and changes to existing ones will come into force from 2018 to 2020.

It should be noted that the Ministry of Finance of the Russian Federation has the right to develop federal standards:

1) for public sector organizations;

2) if no subject of non-state regulation of accounting undertakes the obligation to develop a federal standard provided for by the approved program for the development of federal standards.

Why can we talk about 2017 as the last without fundamental changes in accounting?

Because the Russian Ministry of Finance has prepared a new order, which presents an updated version of the Program for the Development of Federal Accounting Standards (hereinafter referred to as FSBU). Currently, the order is at the stage of completing the development and formation of the final version of the text. You can track the timing of its adoption and entry into force, as well as familiarize yourself with the final version.

This is the second document on this topic. Just last year, the Russian Ministry of Justice already registered (No. 42294) the order of the Ministry of Finance of the Russian Federation dated May 23, 2016 No. 70n “On approval of the Program for the Development of Federal Accounting Standards for 2016-2018.” The provisions of the new order will supersede this document.

Well, let's see what the updated program looks like.

Table FSBU development program for 2017 - 2019.

№ Working title of the draft standard

Deadline for submitting notification of the development of a draft standard

Deadline for submitting the draft standard to the Accounting Standards Board

Estimated date of entry into force of the standard for mandatory application

Responsible executors (developers of draft standards)

1. Development of FSBU
1.1 Reservespresented

II quarter 2017

Foundation "NRBU "BMC"*
1.2 Intangible assetspresented

II quarter 2017

Foundation "NRBU "BMC"
1.3 RentII quarter 2017

III quarter 2017

Ministry of Finance of Russia
1.4 Fixed assetspresented

IV quarter 2017

Foundation "NRBU "BMC"
1.5 Unfinished capital investmentsIII quarter 2017

IV quarter 2017

Foundation "NRBU "BMC"
1.6 Accounts receivable and payable (including debt costs)III quarter 2017

I quarter 2018

Foundation "NRBU "BMC"
1.7 Documents and document flow in accountingIV quarter 2017

I quarter 2018

Ministry of Finance of Russia
1.8 Financial statementsI quarter 2018

II quarter 2018
1.9 Non-profit activitiesII quarter 2018

III quarter 2018

Foundation "NRBU "BMC"
1.10 IncomeII quarter 2018

IV quarter 2018

NP "IPB Russia"***
1.11 ExpensesII quarter 2018

IV quarter 2018

NP "IPB Russia"
1.12 Financial instrumentsIV quarter 2018

II quarter 2019

Foundation "NRBU "BMC"
1.13 MiningI quarter 2019

IV quarter 2019

Foundation "NSFO"****
1.14 Participation in affiliated organizations and joint activitiesII quarter 2019

III quarter 2019

Ministry of Finance of Russia

2. Amendments to the PBU
№ Name

Deadline for submitting notification of project development

Deadline for submitting the project to the Accounting Standards Board

Estimated Effective Date

Responsible executors
2.1 Changes to PBU 3/2006 “Accounting for assets and liabilities, the value of which is expressed in foreign currency”presented

II quarter 2017

Ministry of Finance of Russia
2.2 Changes to PBU 18/02 “Accounting for corporate income tax calculations”IV quarter 2017

I quarter 2018

Ministry of Finance of Russia
2.3 Changes to PBU 13/2000 “Accounting for state aid”I quarter 2018

II quarter 2018

Ministry of Finance of Russia
2.4 Changes to PBU 16/02 “Information on discontinued operations”II quarter 2018

III quarter 2018

Ministry of Finance of Russia
Notes

* Accounting Development Fund “National non-state accounting regulator “Accounting Methodological Center”.

** Self-regulatory organization of auditors “Russian Union of Auditors”.

*** Non-profit partnership “Institute of Professional Accountants and Auditors of Russia”.

**** Foundation “National Organization for Financial Accounting and Reporting Standards”

Changes in PBU

In addition to the introduction of new standards, it is expected that in 2017 - 2020. Changes will be made to the current PBU.

Draft changes to , are currently being prepared.

And PBU 3/2006 “Accounting for assets and liabilities, the value of which is expressed in foreign currency” has already been presented for public discussion.

What will most likely be accepted at first?

Three federal standards - “Fixed assets”, “Inventories”, “Intangible assets”, the responsible developers of which are stated by the BMC, have already been submitted for discussion.

This means that next year there is a fairly high probability of their adoption. It is planned that from the date of entry into force of these regulations, organizations will be given the right to apply them proactively.

I highly recommend doing this, since a lot of systematic work will be required to prepare and switch to their use. From 2019, previously existing standards will no longer be in force, and new ones will be mandatory.

The new standards can be found on the website of the Accounting Methodological Center:

What should accountants do now?

The news about the approval of the program for developing federal standards has practical significance. Since there are no plans to change the order of presentation of comparable data in the annual accounting statements, I propose to look at the 2019 balance sheet from this point of view. In 2018, organizations will have to provide data on assets and liabilities for three reporting dates: 12/31/2019, 12/31/2018 and... that’s right - 12/31/2017!

I draw the attention of accountants to the obvious fact: the easiest way to collect information comparable for future periods is in the process of preparing the current annual report, since the figures are familiar at this point.

It is for this reason that bringing them to the future order (or at least making marks to highlight assets, liabilities and transactions that require adjustments for comparison) at a time when the 2017 numbers are not yet known will end up being less labor-intensive.

In two years, it will take much more time to obtain the same results: first, you will need to remember the history of the 2017 numbers, and then identify new accounting objects and evaluate the necessary adjustments.

A standard is a specific norm, documented. As for accounting, there are certain requirements for it, declaring the minimum nuances and acceptable methods of accounting. They are called standards.

Let's take a closer look at industry accounting standards, in contrast to federal and internal ones.

Types of accounting standards

Federal Law “On Accounting” No. 402-FZ dated December 6, 2011, part 1 of Art. 21 identifies the following types of accounting standards:

  • federal - established by the legislation of the country, relevant for any organizations operating on the territory of the Russian Federation;
  • industry - adopted by regulatory documents for the relevant field of activity;
  • internal - adopted by local acts of each individual enterprise.

IMPORTANT! Federal and industry standards are mandatory. When developing internal standards, the organization must ensure that they do not contradict industry and federal standards.

Features of industry standards

Industry Standards– these are the rules governing the application of federal accounting standards in different sectors of operation, created taking into account the nuances of individual types of activities (industries) or their areas.

Principles of compilation industry, as well as other accounting standards, are aimed at regulating it:

  • bringing requirements into line with the needs of people and organizations preparing and receiving financial statements;
  • achieving the current level of development of practice and scientific methods of financial accounting;
  • organization of unity of rules for various accounting systems;
  • simplification of accounting and reporting (for those categories entitled to apply simplified accounting methods).

Common features between federal and industry standards

  1. Regulate accounting methods in the organization.
  2. Unconditionally required for use.
  3. Install:
    • minimum required accounting rules;
    • acceptable accounting methods.

Differences between industry standards and federal standards

  1. Industry standards specify federal ones.
  2. They have a more basic mechanism of use.
  3. The type of activity for which they are created is taken into account.
  4. Can be approved only based on the results of an examination by the Standards Council.

Industry standards can be universal for certain areas of activity, detail special rules for accounting, or reveal the peculiarities of its conduct in specific areas.

NOTE! In light of the gradual transition to international accounting standards (IFRS), the development and use of industry standards is highly appropriate. The Central Bank of the Russian Federation, which regulates the domestic market, is actively developing and implementing standards for all major industries operating today in various economic sectors.

Reasons for developing industry standards

In addition to the need to bring accounting requirements closer to international ones, the Bank of the Russian Federation is guided by the following considerations that dictate the emergence of various industry standards:

  • the desire for universality of accounting reporting;
  • the desire to increase the information content of the submitted forms;
  • the planned transition in the near future to a chart of accounts that is unified for credit and non-credit financial institutions.

Industry standards are constantly updated and introduced into the life of organizations gradually, as they are adopted and approved by the Standards Council.

What is included in industry standards

Industry requirements for accounting methods and methods specify the specifics of the application of federal ones, therefore they contain the same information, but of a specific nature:

  • information about accounting objects, their definition and classification;
  • rules for their acceptance and write-off;
  • methods by which their value is determined;
  • applicable chart of accounts;
  • financial reporting requirements, etc.

Examples of industry standards

When releasing a new industry standard, the Bank of the Russian Federation places it on its official website. In addition to those already approved, it contains draft standards that are being prepared for examination. Regarding each of the published Regulations, the Bank of Russia publishes special explanations and instructions. Let us give examples of the latest new industry standards from the Bank of the Russian Federation.

  1. Industry standards for non-credit financial institutions (NFIs):
    • for activities under a property trust management agreement (No. 505-p dated November 18, 2015);
    • for transactions with reserves reflecting estimated and contingent liabilities of non-credit organizations (No. 508-p dated December 3, 2015);
    • accounting of derivative financial instruments (No. 488-p dated September 4, 2015);
    • accounting of income, expenses, other comprehensive income (No. 487 dated September 04, 2015);
    • the procedure for drawing up accounting reporting documents (No. 526-p dated December 28, 2015);
    • the procedure for preparing financial statements of securities market participants and various investment funds, trade organizers and counterparties, credit rating and credit history agencies, insurance brokers (No. 532-P dated February 3, 2016), etc.
  2. Industry standards for insurance organizations:
    • the procedure for drawing up documents for accounting reports (No. 526-p dated December 28, 2015);
    • operations for conducting insurance activities (No. 502-p dated November 5, 2015);
    • accounting in Russian insurance organizations and mutual insurance companies (No. 491-P September 04, 2015), etc.
  3. Industry standards for credit financial institutions (CFO):
    • rules for calculating and paying remuneration to KFO staff (No. 465-p dated April 15, 2015);
    • features of meeting reserve requirements (No. 554-p dated October 20, 2016);
    • accounting for fixed assets, real estate, assets that are temporarily not in use, inventories intended for sale and received as collateral or compensation (No. 448-p dated December 22, 2014);
    • requirements for hedging (No. 525-p dated December 28, 2015), etc.

Innovations for 2018

The Bank of Russia began to perform new, additional functions: to regulate industry requirements for accounting of certain types of activities. For example, previously control for non-credit financial organizations was carried out by the Financial Service for Financial Markets and the Federal Insurance Supervision Service, and the requirements themselves were developed by the Ministry of Finance of the Russian Federation. For NFOs, from January 1, 2018, industry standards adopted by the Bank of Russia come into force: these organizations must switch to the new PBU.

To create Regulations regarding accounting in NFOs, the Bank of Russia used the framework it had previously developed regarding CFOs. Many points remain the same, but there are also innovations associated with the widespread convergence with IFRS.

REFERENCE! If in the provisions adopted by the Bank of the Russian Federation as the main market regulator, any issues are not resolved in the relevant regulations, it is recommended to use the requirements of IFRS.

Specialized organizations are ready to help enterprise management quickly switch to new methods of accounting by providing assistance in:

  • formulation of accounting policies;
  • correlation of existing PBUs with industry and federal standards;
  • numbering of new personal accounts;
  • developing a methodology for assessing assets and liabilities;
  • automation of accounting according to new requirements.

Specialists are ready to train and advise accounting workers on any issues related to the transition to a new level of accounting for financial activities.

The adoption of the new accounting law No. 402-FZ instead of the invalid 129-FZ introduced changes to a number of important concepts. Thus, instead of the familiar concept of “Russian accounting standards” (RAS), 402-FZ introduced the concept of “federal accounting standards”. In the article we will consider whether changes in the wording have affected the work of accountants, and we will dwell on the prospects for the development of the Federal Accounting Service.

Where did RAS disappear?

The update of PBU 1/2008 “Accounting Policies of the Organization” was removed from the program, since it was carried out within the framework of the previous program. The main change concerns organizations preparing consolidated statements in accordance with IFRS. Now such organizations have the right not to use the accounting method according to national rules when such a method contradicts the requirements of IFRS. This innovation has already raised a number of questions, including whether organizations that prepare IFRS reports voluntarily can apply such innovations? Today there is a position that yes, there are no restrictions on the application of IFRS rules even for those who do this voluntarily. In addition, given the range of choice of accounting methods, it is impossible to refuse to apply the national rule if there is any IFRS accounting method, although it is not enshrined in the accounting policy of the organization.

This goal has not yet been embodied in the new FSBUs and has not affected the previously adopted ones. However, at the moment, the deadline established for public discussion of the following FBU projects has expired:

  • stocks;
  • fixed assets;
  • intangible assets;
  • changes to PBU 3/2006.

Also on the website of the Ministry of Finance of the Russian Federation there is a draft of the new FSBU “Rent Accounting”.

2018 has brought new changes in accounting and will be active. Chief accountants need to be attentive to all the subtleties of the transition to new standards. You should pay special attention to the correctness of record keeping in the information base and put all matters in order. Otherwise, errors and inaccuracies are fraught with fines and inspections.

In April 2015, the Russian Ministry of Finance approved a program for the development of federal accounting standards for public sector organizations (Order No. 64n dated April 10, 2015).

According to the program, ten standards must be in effect from January 1, 2018. However, the entry into force of three of them was planned to be postponed from 2018 to 2020: the Russian Ministry of Finance prepared a draft order to introduce appropriate changes to the program.

On October 31, 2017, the Russian Ministry of Finance issued Order No. 170n “On approval of the program for the development of federal accounting standards for public sector organizations for 2017-2019.” and on the recognition as invalid of the orders of the Ministry of Finance of Russia dated April 10, 2015 No. 64n “On approval of the program for the development of federal accounting standards for public sector organizations” and November 25, 2016 No. 218n “On amending the order of the Ministry of Finance of Russia dated April 10, 2015 No. 64n “On” approval of the program for the development of federal accounting standards for public sector organizations."

The standards come into force in stages from January 1, 2018. The final transition to use is planned for 2020. At the same time, changes will be made to the current instructions for accounting and reporting, forms of primary accounting documents and registers.

Currently, five standards have been approved and registered with the Russian Ministry of Justice:

  • “Conceptual foundations of accounting and reporting of public sector organizations” (Order of the Ministry of Finance of Russia dated December 31, 2016 No. 256n);
  • “Fixed assets” (Order of the Ministry of Finance of Russia dated December 31, 2016 No. 257n);
  • “Rent” (Order of the Ministry of Finance of Russia dated December 31, 2016 No. 258n);
  • “Impairment of assets” (Order of the Ministry of Finance of Russia dated December 31, 2016 No. 259n);
  • “Presentation of accounting (financial) statements” (Order of the Ministry of Finance of Russia dated December 31, 2016 No. 260n).

Drafts of other standards are posted on the website of the Ministry of Finance of Russia in the section “Accounting and accounting (financial) reporting of the public sector”, subsection “Financial reporting standards for the public sector”.

As noted, changes in accounting will be introduced gradually, from 2018 to 2020. Total expected 29 new standards. Innovations entail a number of significant changes. Their goal is to increase the efficiency of government agencies.

The name of the standard, “Conceptual Framework for Accounting and Reporting for Public Sector Organizations,” speaks for itself. This is a basic document that defines uniform requirements for accounting and reporting in public sector organizations:

  • basic rules (methods) of accounting;
  • accounting objects, general rules for their recognition (derecognition), valuation (monetary measurement) and valuation methods;
  • general rules for the formation of information disclosed in accounting (financial) statements, their qualitative characteristics;
  • basic principles (assumptions) of reporting preparation;
  • basic requirements for inventory of assets and liabilities.

Public sector organizations must apply the standard when maintaining accounting (budget) records from January 1, 2018. To prepare reports, the provisions of the standard must be followed starting from the 2018 reporting. Reporting for 2017 is presented according to the old rules.

The provisions of the standard are applied simultaneously with other approved standards, as well as regulatory legal acts that govern accounting (budget) accounting and reporting.

To understand the essence of the upcoming changes, the study of standards must begin with the conceptual foundations. Let's analyze the provisions of the document. What are fundamentally new approaches to data generation?

Global changes

Accounting objects

The main innovations concern accounting objects. The standard defines assets, liabilities, net assets, income, and expenses for the first time.

An asset is property (including cash and non-cash funds) that meets the following conditions:

The definition of an asset uses a number of new terms. Useful potential is the suitability of an asset for use in the activities of an institution, exchange, and repayment of accepted obligations. The use of property does not have to be accompanied by the receipt of funds. It is sufficient that it serves to enable the institution to perform its functions and achieve its goals. Thus, the asset is characterized by certain consumer properties.

Future economic benefits are recognized as receipts of cash (cash equivalents) resulting from the use of an asset, for example, lease payments.

Control over an asset can be said if an institution has the right to use the asset (including temporarily) to extract useful potential or obtain future economic benefits and can exclude or regulate access to this useful potential or economic benefits. For accounting purposes, it is assumed that the institution controls the property that the owner (founder) has assigned to it.

A liability is a debt, the settlement of which will result in the disposal of assets embodying useful potential or economic benefits. Obligations are accepted for accounting if they arose by virtue of a law, another regulatory legal act, a municipal act or an agreement (contract, agreement).

The difference between assets and liabilities on a certain date shows the value of net assets. Property for which the institution is not responsible for its obligations is not included in the calculation of net assets. Net assets can take both positive and negative values.

Income is an increase in the useful potential of assets and (or) the receipt of economic benefits during the reporting period (except for income associated with contributions of the owner, founder). The contribution of the owner (founder) is the property that he transferred to the institution (except for cash and cash equivalents).

An expense is a decrease in the useful potential of assets and (or) a decrease in economic benefits for the reporting period as a result of the disposal or consumption of assets or the occurrence of liabilities.

The exception is the seizure of property by the owner (founder), with the exception of cash and cash equivalents.

The difference between income and expenses represents the financial result for the reporting period.

Budget income is taken into account by administrators, expenses are taken into account by the main managers (managers) and recipients of budget funds.

Thus, when reporting for 2017, only assets can be listed on the balance sheet. But by 2018, the accounting department of the institution needs to sort out the division of property into an asset and a non-asset (Fig. 2). The same thing should happen with accounts receivable, they need to be written off and removed from the balance sheet.

Recognition of accounting objects

An object is accepted for accounting and (or) reflected in financial statements if three conditions are simultaneously met:

If the value of an object cannot be assessed, it is not recognized in accounting, but information about it is disclosed in the explanatory note to the financial statements.

The object is removed from the balance sheet on the date when at least one of the listed conditions is no longer met.

If income is recognized over several accounting periods, expenses that correspond to these income must be allocated between the same accounting periods.

Assessment of accounting objects

The standard introduces a new concept of “fair value”. It corresponds to the price at which ownership of the asset is transferred between independent parties to the transaction. Accounting items that need to be measured at fair value, and the cases in which it is used, will be established in the standards dedicated to these items.

The fair value of assets and liabilities can be determined by two main methods:

As an example of the cost of restoring (reproducing) an asset, the cost of restoring a building in the event of its destruction is given. The replacement cost of an asset is calculated based on the market purchase price of a similar asset with a comparable remaining useful life. For example, the cost of replacing a destroyed building with another building with a comparable useful life.

Generating data for reporting

The standard for the first time formulates the characteristics that information in reporting must meet:

The standard for the first time enshrines the principle of priority of content over form. It means that information about accounting objects and facts of economic life should be presented in accordance with their economic essence, and not just their legal form.

The legal and economic content of the facts of economic life may differ or even contradict each other. For example, if we talk about property, then from a legal point of view the volume of rights to this property is important: it is in an institution with the right of operational management or leased, received for free use, for storage, or on commission.

From an economic point of view, to recognize property as an asset, what is important is not the rights to it, but its useful potential, ability to bring economic benefits and the ability to control the object.

Property may be used in the activities of the institution to achieve its statutory goals, but not owned by the right of operational management, but leased. The opposite situation is also possible: the property is assigned to the institution with the right of operational management and is listed on the balance sheet, but is unsuitable for use.

Currently, only property that is assigned under the right of operational management is reflected on the institution’s balance sheet. Property received for paid or gratuitous use is shown on off-balance sheet accounts. However, since 2018, the principle of presenting information in accounting and reporting has changed dramatically. It is not the legal, but the economic interpretation of the facts of economic life that becomes decisive. Thus, the accounting methodology comes closer to the approaches adopted in international financial reporting standards.

In relation to operations with property, this means that the right to use leased fixed assets will be reflected by the user (lessee) as part of non-financial assets as an independent accounting object. This is also enshrined in the federal “Rent” standard, which also comes into force on January 1, 2018.

What should employees of public sector institutions prepare for?

First of all, you need to be prepared for the fact that new accounts and subaccounts will be introduced into a single chart of accounts, and the process of filling out documents will change slightly. To do this, you need to download a new OKOF from 2018 and update the edition.

Changes in subaccounts of the unified chart of accounts:

101.х3 "Investment real estate".

101.x7 “Biological resources”.

In depreciation accounts, 104 subaccounts change in the same way!

Intangible assets account 102 will now be divided by type:

102.x1 “Software and Databases.”

102.x2 “Original works.”

102.x3 “Results of research work.”

102.x9 “Other intangible assets.”

Accounts are also added:

111.00 “Rights to use property.”

114.00 “Impairment of assets.”

Account 401.00 (Financial result) is added:

401.11 “Revenues of the current fiscal year.”

401.18 “Income of previous years.”

401.19 “Result of correcting errors in income.”

Account 401.20 (Current fiscal year expenses):

401.21 “Expenditures of the current fiscal year.”

401.27 “Result from the assessment of reserves.”

401.28 “Expenditures of previous years.”

401.29 “Result of correction of errors in expenses.”

120 (Income from property) KOSGU is expanding, it now contains a list of:

121 “Income from operating leases”.

122 “Income from finance leases”.

123 “Natural resource (rent) payments.”

124 “Interest on deposits”.

125 “Interest on borrowings.”

126 “Interest on other financial instruments”.

127 “Dividends from investment objects.”

128 “Share in profit (loss) of investment objects.”

129 “Income from participation in other organizations.”

12T “Income from a simple partnership.”

12K “Income from concession fees.”
When calculating depreciation, specialists need to be careful, since due to changes in accounting in 2018, there will be two more subsections depreciation charges (Fig. 7).

You should be careful, since they are used only for BGU two new methods(reducing balance method and method proportional to production volume). Additional depreciation charges and write-offs of fixed assets to off-balance sheet accounts are not yet required.
As for inventory objects, the unit of accounting, as is known, is the inventory object. The OS object of the inventory object includes everything that was previously, and one more item is added “ Complex of OS objects". These are heterogeneous objects, the useful life of which is the same, and the cost is not significant. And in the structural part of the OS object, you can independently determine the period of receipt of economic benefits.
Due to changes in accounting in 2018, only one separate inventory card (0504031) will need to be opened for the entire complex for heterogeneous OS objects. For example, an office in a government agency containing chairs, tables, and computers. All fixed assets will be accounted for as one inventory object, for which one inventory card is created.
The accounting of rental income from the lessor is transferred to account 401.40 (Deferred income), and the account for the rights to use leased property is listed on account 111.00 (Rights to use property) (Fig. 8).

In conclusion, we note once again that the article examines only part of the changes that were introduced by federal standards for public sector organizations.

Federal standards approved by the Ministry of Finance of Russia, in accordance with paragraph 1 of Art. 21 of the Federal Law of December 6, 2011 No. 402-FZ “On Accounting” are one of the main documents regulating accounting.

Following the federal ones, industry standards should be approved, as well as recommendations for their application.

Letter of the Ministry of Finance of Russia dated December 15, 2017 No. 02-07-07/84237 “Methodological recommendations on the application of the federal accounting standard for public sector organizations “Fixed assets””;

Letter of the Ministry of Finance of Russia dated December 13, 2017 No. 02-07-07/83464 “Guidelines for the application of the federal accounting standard for public sector organizations “Rent”.”

Consequently, despite the fact that federal standards will come into force on January 1, 2018, their correct and uniform application cannot be ensured without approved industry standards and relevant recommendations.

In other words, for now, accountants of state and municipal institutions can only monitor the rule-making of the Russian Ministry of Finance and wait.